PCNTDA to sell plots on free hold ownership
Since there is a long lease of 99 years, the title of a plot remains with the PCNTDA
Pimpri: The Pimpri Chinchwad New Town Development Authority (PCNTDA) is likely to sell land plots on free hold ownership to buyers. Earlier, plots were transferred on a long lease to purchasers. An important meeting of officials of the authority and the elected representative from Pimpri-Chinchwad has been scheduled on September 7. The proposal for making PCNTDA properties free hold is a part of the agenda of this meeting. If this move is approved by the State government, it will be a big relief for a large number of property owners.
The PCNTDA has transferred its plots on a long lease of 99 years for development. Therefore, developers could not transfer these properties in the name of purchasers. At the time of transfer, the purchaser has to pay transfer fees to the authority.
Since there is a long lease of 99 years, the title of a plot remains with the PCNTDA. Property holders within PCNTDA limits have been demanding for the past several years that the authority must make these properties free hold. After the formation of the Pune Metropolitan Regional Development Authority (PMRDA), a proposal to dissolve the PCNTDA is being considered. In that case, all properties will be transferred to either the PMRDA or the Pimpri Chinchwad Municipal Corporation (PCMC). In this backdrop, the demand for making these properties free hold is being pushed by property holders and elected representative.
In the past 45 years, the authority has developed 34 housing projects. In these projects, it allotted 11,500 dwelling units.
Besides, it has allotted over 7,000 plots. The PCNTDA acquired 1,840 hectares of land in city and planned to develop 42 sectors.
According to sources, subjects such as encroachments on PCNTDA land, available plots for sale, a proposed international exhibition centre at Moshi, the proposed ring road project and reduction of transfer fees will be discussed in the meeting.
Besides officials from the authority, MLA Laxman Jagatp, Mahesh Landge and other key elected representatives will attend the meeting.